AB 1553 WILL PROVIDE HELP WITH ADA UPGRADES

We are in support of AB 1553 (Cervantes; D-Riverside) a bill that makes changes to the Capital Access Program for Small Business to enable more businesses can access funding to make their properties into compliance with ADA codes. This bill authorizes the use of moneys in the California Americans with Disabilities Act Small Business Capital Access Loan Program (ADA program) fund for payments to borrowers to provide incentives to participate in the ADA program, which will enable more properties to make upgrades.

AB 1553 would also expand the definition of eligible applicants for this program to include those with less than $5 million in total gross annual income, assuring that more small businesses will benefit and even more properties will become compliant.

This bill will be heard next week and we will keep you posted on its progress.